Many overseas aluminum plants reduced production to drive aluminum prices to fluctuate upward

In terms of domestic fundamentals, the production capacity of electrolytic aluminum supply has continued to rise recently, and Guangxi, Shanxi and Guizhou have successively resumed
production.
In terms of cost and profit, the recent decline in alumina is small, the electricity price is relatively stable, the current aluminum price is at a high level, and the industry maintains profitability
.
In terms of demand, the demand for aluminum rods is relatively sluggish, the demand for aluminum plates and foils is relatively good, and some companies are preparing for holidays
near the Spring Festival.

In terms of inventory, the domestic aluminum ingot social library is also continuously destocked, and the downstream replenishment situation is better
.
In terms of price, overseas production cuts coupled with domestic destocking have supported aluminum prices, and it is recommended to treat them with the idea of bargain hunting, considering that the holiday is approaching, consumption has signs of weakening, and it is not appropriate to chase more
.

At present, the implementation of production cuts by many overseas aluminum plants is still the main driving factor for the current upward trend of aluminum prices, Shanghai aluminum by the price of internal and external action, but also appeared a significant increase, superimposed on the current inventory and cost side to add more profits, short-term Shanghai aluminum rebound momentum is still strong
.
However, after the years, some domestic aluminum plants have resumed production one after another, and a number of projects have been put into operation, and the upward trend of Shanghai aluminum may be subject to certain resistance, and the sustainability may be difficult to maintain
.
In the medium and long term, if the demand for new energy picks up significantly in the first quarter, the sustainability of the rise in aluminum prices may be enhanced
.